mOROCCO

 

IMF Approves $6.2Bn Credit Line For Morocco

The IMF Executive Board has approved a $6.2bn liquidity line for Morocco to help protect the country against swings in oil prices and potential fallout from the economic downturn in Europe. The 24-month loan is provided under the IMF’s new Precautionary and Liquidity Line (PLL), which was added to the IMF’s lending toolkit in 2011. According to the IMF, the PLL “will provide a useful...